Buyer's Market?? June 2010 Stats
Ben Schmidt of http://www.benschmidt.tv a Fredericton NB and Oromocto NB Real Estate Agent video blogs about the June 2010 market stats
So we're half way through the 2010 year, and it's been a crazy year so far for real estate. We started out with both listings and sales being up drastically, in some cases over 100% than last year. This is what we're seeing as of now.
For the month of June, listings are a dead even compared to June last year. Year to date, listings are up 6.7%
For the month of June, sales are down a huge 16%, and year to date we are up 2.9%
What does this mean? Well it means that roughly we have 3.8% more homes on the market than we did, this time last year, so inventory is slightly up. Also, we're seeing in the last two month sales dropping considerably.
So if you're a seller, expect to be on the market a little longer than normal. We are going into vacation season when historically our sales drop. If you need to sell your home asap, then consider a price reduction, pay a higher commission to the selling agent, or upgrade your home.
If you're a buyer, don't get too excited yet. Just because inventory is slightly up, and our sales have dropped in the last two months, doesn't mean we are in a buyers market. Year to date, our sales are actually still above last year. If you're interested in buying a home in Fredericton, then consider getting out there right now. With July and August typically being a slower month due to vacation, you'll have less buyers to compete with and more homes to look at!
If you have any questions about the Fredericton marketplace or any questions for a Realtor give me an email at ben.schmidt@me.com
Ben Schmidt of www.benschmidt.tv a Fredericton NB and Oromocto NB Real Estate Agent video blogs about the June 2010 market stats
So we're half way through the 2010 year, and it's been a crazy year so far for real estate. We started out with both listings and sales being up drastically, in some cases over 100% than last year. This is what we're seeing as of now.
For the month of June, listings are a dead even compared to June last year. Year to date, listings are up 6.7%For the month of June, sales are down a huge 16%, and year to date we are up 2.9%
What does this mean? Well it means that roughly we have 3.8% more homes on the market than we did, this time last year, so inventory is slightly up. Also, we're seeing in the last two month sales dropping considerably.
So if you're a seller, expect to be on the market a little longer than normal. We are going into vacation season when historically our sales drop. If you need to sell your home asap, then consider a price reduction, pay a higher commission to the selling agent, or upgrade your home.
If you're a buyer, don't get too excited yet. Just because inventory is slightly up, and our sales have dropped in the last two months, doesn't mean we are in a buyers market. Year to date, our sales are actually still above last year. If you're interested in buying a home in Fredericton, then consider getting out there right now. With July and August typically being a slower month due to vacation, you'll have less buyers to compete with and more homes to look at!
If you have any questions about the Fredericton marketplace or any questions for a Realtor give me an email at ben.schmidt@me.com